Florida City Denied New Look at Suit Over Wells Fargo Mortgages

The city of Miami Gardens, Florida, won’t get a full Eleventh Circuit review of a decision holding that it lacked standing to bring a Fair Housing Act lawsuit against Wells Fargo, which was accused of directing minority borrowers into higher-cost loans that eventually foreclosed and harmed the city.

Miami Gardens claimed in the lawsuit that foreclosures stemming from the allegedly discriminatory lending practices decreased the value of other properties and caused economic damage to the city through reduced tax revenues. The district court ruled that Miami Gardens hadn’t sufficiently shown that Wells Fargo violated the law within the limitations period. ...